Metal Foam Market Size By Product (Open Cell, Closed Cell), By Material (Aluminum, Copper, Zinc, Titanium), By End-Use Sector (Automotive, Aerospace, Building & Construction, Healthcare, Energy) Industry Analysis Report, Regional Outlook (U.S., Canada, UK, Germany, France, Italy, Spain, Russia, China, India, Japan, Australia, Indonesia, Malaysia, South Korea, Brazil, Mexico, South Africa, Saudi Arabia, UAE, Kuwait), Growth Potential, Price Trends, Competitive Market Share & Forecast, 2019 – 2025
Published Date: Jun 2019 | Report ID: GMI3723 | Authors: Kiran Pulidindi, Soumalya Chakraborty Report Format: PDF
Metal Foam Market Size was estimated over USD 70 million in 2018 and the market statistics will grow by a CAGR more than 5.5% up to 2025.
U.S. Metal Foam Market Share, By End-Use Sector, 2014 – 2025 (USD Million)
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Proliferation in construction activities due to the increasing per capita income coupled with improving living standards are boosting the spending on construction in developing nations. The above mentioned trend will positively influence global metal foam market over the forecast timespan. The product is mostly employed in building structures, wall coverings, etc. due to its superior thermal insulation and fire resistant properties. The construction industry in various South Asian countries such as India, China, Vietnam, Indonesia are thriving, and the GDP forecasts for these nations range between 5% to 7%. India will continue to be a leading nation of the Asian economy in 2019 and China appears to be slowing down due to a potential trade war with the U.S. South Korea and China held a significant share in construction sector and will continue to expand in the upcoming years due to continuing industrialization coupled with a significant population growth. For instance, in China, the Beijing airport expansion project is expected to be completed by 2025. Likewise, the Versova Bandra sea link project in India has been approved and this bridge will be located at around 850 to 1,800 meters from the Mumbai coast. Several other ongoing and upcoming construction projects will boost the metal foam demand by 2025.
The numbers of air-passengers in the Asia Pacific region is likely to increase by 4% to 6% from 2017 to 2025. The above mentioned factor is likely to act as a foremost driver for aerospace industry. Metals foams are used for designing the wings, blades, heat exchangers, battery plates, etc. due to its lightweight, cost effective, heat & fire resistance characteristics. The demand for leisure & business travel and freight transportation is rising significantly in developing nations of Asia Pacific and the Middle East owing to the increasing per capita income and changing lifestyles. This will eventually contribute towards an escalation in the aircraft production globally. The increasing demand for lightweight and high-strength components in aerospace applications will spur the metal foam demand in the global aerospace industry.
Metal Foam Market, By Product
The market is classified into two key products which include open cell and closed cell. Open cell metal foams held the majority volume share in the overall market in 2018 and will grow with more than 5.5% CAGR in future. The product can be produced in a large spectrum of pore densities and sizes and the adjustable pore size range between 0.3 to 0.5 mm. Its structure variability, fluid & heat adsorption, high mechanical strength, sound adsorption characteristics make it perfect for catalytic converter substrates, heat insulation, and noise absorption applications in various industries.
Metal Foam Industry, By Material
Aluminum, copper, zinc, and titanium are the major materials in metal foam market share. The other minor materials include steel, nickel, cadmium, etc. From these, aluminum and titanium collectively clutched over 55% volume share of the entire market in 2018 and will witness healthy growth over the coming years. Aluminum metal foams are mostly employed in household & furniture, automotive, aerospace, ships, and other industries due to its lightweight, durability, good conductivity, sound proofing, heat resistivity, porosity and mechanical features. Owing to extraordinary and superior features and cost effective nature, the aluminum metal foams will likely replace the expensive honeycomb structures in aerospace industry in coming years.
Metal Foam Analysis, By End-Use Sector
On the basis of end-use sector, the metal foam market size is bifurcated into five major end-use sectors which include automotive, aerospace, building & construction, healthcare and energy. Other minor sectors include consumer goods, marine, railways, etc. Among these, automotive end-use segment clutched more than 35% volume share in 2018 and is likely to witness a high growth over the forecast period. The product is highly useful for weight reduction of vehicles. Aluminum foam is mostly used for manufacturing the passenger car/vehicle structural panels, body sheets, sliding roofs, engine hoods, trunk lids, etc. as it offers excellent energy absorption, lightweight, and superior insulation properties. The above mentioned factors will facilitate the overall market growth over the forecast spell.
Metal Foam Market, By Region
Based on geography, the metal foam industry is divided into North America, Asia Pacific, Latin America, Europe and Middle East & Africa. Among these, Asia Pacific market was valued over USD 16 million in 2018 and will likely growth with over 6.5% CAGR in future. This is all due to the significant automotive production in Asian countries such as China, South Korea, etc. Improving economic conditions in the region, coupled with rising disposable income have led to an increased demand for automobiles. Low cost labor, easy raw material availability, and proximity to high potential markets has led to many automotive manufacturers from North America and Europe setting up their manufacturing plants in the Asia Pacific region. This in turn will boost the metal foam demand for automotive industry in Asian Countries by 2025.
Europe accounted for more than 25% volume share of global metal foam market share in 2018 and will show the substantial growth in future. As per European Automobile Manufacturer’s Association (EMMA), Europe produced 18.4 million motor vehicles in 2015 which is approximately 23% of the global automotive sales and is projected to rise at a healthy rate in future. These trends are likely to make noteworthy contribution to the European market in forecast timeframe.
Competitive Market Share
Ultramet, Reade International Corp., Erg Aerospace Corporation, SELEE Corporation, Foamtech Global Co, Cymat, Shanxi Putai Aluminum Foam Manufacturing, IWE Greifswald, Spectra-Mat, Inc., Aluntam Corp, Bauer Cases, AlCarbon, Cnem Corporation, Nanoshel, American Elements and others are some prominent manufactures in metal foam market share. The companies are trying to gain competitive advantage and expanding its presence across globe by enhancing product portfolio and production capacity expansion.
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The market is mainly driven by increasing product applications in automotive, aerospace healthcare industry. These materials offer superior benefits over other materials and extensively used for manufacturing the automobiles and aircrafts body parts and other components. Significant growth in automotive & aerospace industry in most of the developing regions will boost the global market size by 2025.
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